Hello my friends from Finland, the UK, Sweden, Australia, North Carolina, Ohio, and all my Buddies near and far! Welcome!
After making some not-so-wise purchases lately (like my 32 gig iTouch — But I love that little thing though!), I want to give you a few words of advice. Be very mindful when making a purchase! You want to keep your level of stress and that overwhelmed feeling to a minimum. The more stuff you own, the more stressed you’ll be. Everything you buy has a “cost’ associated with it over and above what you see on the price tag. Your purchases can leave you overwhelmed, stressed out, worried and broke, with no free time left to write your autobiography, post to your blog, update your resume, or spend time with your kids. The item you want may cost way more in lifestyle adjustments than you are prepared to make.
I’ve identified 7 stress-elevation factors you should consider before making any purchase:
1. Debt Facilitation Factor. Making monthly payments, remembering to pay it, time spent going on line or to the post office to pay the bill, making deposits in your bank account to cover the bill, working to pay the bill, buying stamps and envelopes to mail the bill, paying late fees, reviewing the deluge of emails and junk mail generated by these purchases.
2. Emotional Attachment Factor. Now that you’ve bought it, you cannot bear to part with it because (1) you’ve’ wanted it for a long time; (2) you’ve envied someone else for having it; (3) you feel very important and special now that you have it; (4) someone begged you for it, thereby validating just how important an item this is.
3. Additional Costs Factor. Computer software and repairs, video game dvds, monthly cable bills, mobile broadband cards, gas, tolls, parking tickets, speeding tickets, external hard disk drives, anti-virus protection fees, spray starch, replacement parts, and more.
4. Maintenance Factor. Lube jobs, oil changes, replacement parts, dry cleaning bills, Laundromat bill, laundry detergent costs, electricity and hot water for the dishwasher, washer and dryer, jewelry cleaning, and piano tuning. The list is endless.
5. Space Allocation Factor. The amount of space an item takes up in your abode or driveway. A piano would have a significantly higher space allocation factor than a pair of shoes.
6. Time Drain Factor. Facebooking, tweeting, web surfing, excessive TV watching, playing video games, buying apps, movies, games, and tv series from the Apple Store, and reading magazines and newspapers on Kindle.
7. Worry Factor. You might lose it, someone might steal it, the cat might use it as a hockey puck, the dog might bury it, your kids might break it, or the bank might repossess it.
8. Law of Diminishing Use or the Dusk Collection Factor. Are you really going to use that stationery bike or treadmill after you’ve owned it after 3 months.
Factor all these in while you’re in the check out line, and you might just put that plasma screen tv right back on the shelf where you found it.
Can you think of any other brain draining, energy sapping or money exhausting factors that can drain the lifeblood out of you? I’d love to hear from you
Keeping it easy and breezy,